{"id":54273,"date":"2023-02-27T17:05:17","date_gmt":"2023-02-27T16:05:17","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/standard-general-to-challenge-media-bureaus-unprecedented-attempt-to-scuttle-the-proposed-transaction-with-tegna-calls-on-fcc-to-bring-the-transaction-to-a-vote-by-the-full-commission\/"},"modified":"2023-02-27T17:05:17","modified_gmt":"2023-02-27T16:05:17","slug":"standard-general-to-challenge-media-bureaus-unprecedented-attempt-to-scuttle-the-proposed-transaction-with-tegna-calls-on-fcc-to-bring-the-transaction-to-a-vote-by-the-full-commission","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/standard-general-to-challenge-media-bureaus-unprecedented-attempt-to-scuttle-the-proposed-transaction-with-tegna-calls-on-fcc-to-bring-the-transaction-to-a-vote-by-the-full-commission\/","title":{"rendered":"Standard General to Challenge Media Bureau\u2019s Unprecedented Attempt to Scuttle the Proposed Transaction with TEGNA; Calls on FCC to Bring the Transaction to a Vote by the Full Commission"},"content":{"rendered":"
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NEW YORK–(BUSINESS WIRE)–Standard General L.P. is vowing to continue its efforts to complete its proposed transaction with TEGNA (NYSE: TGNA), despite the unprecedented actions of the FCC\u2019s Media Bureau, which belatedly designated two questions related to the deal to an Administrative Law Judge. The Media Bureau\u2019s action, which was promptly criticized by two of the FCC\u2019s four current Commissioners, is tantamount to denying the transaction by initiating a lengthy process that would extend well beyond the transaction\u2019s Final Extension Date of May 22, 2023.\n<\/p>\n

\nStandard General is calling on the Federal Communications Commission (FCC) to formally vote now on the proposed transaction and render a decision on the merits.\n<\/p>\n

\nCommenting on the situation, Standard General\u2019s Managing Partner Soo Kim said, \u201cA decision delayed is a decision denied. Our proposed transaction is consistent with all FCC regulations and precedent. It is bolstered by a voluntary commitment to invest in local news, preserve newsroom jobs, and address purported concerns related to consumer pricing. But rather than rule on the transaction\u2019s merits, as the law requires, the Media Bureau is attempting to scuttle the deal by ordering a wholly unnecessary hearing process, that if left standing by the Commission, would kill the deal.\u201d\n<\/p>\n

\nAs part of Standard General\u2019s efforts to persuade the FCC to address the Media Bureau\u2019s unprecedented action, it calls attention to a number of salient facts, some of which have not been widely reported:\n<\/p>\n